Saks Incorporated sales impacted by October hurricanes
07 Nov '05
3 min read
Categories with the softest sales performances for SDSG in October were women's moderate sportswear, women's petite sportswear, men's furnishings, and home. Categories with the best sales performances for SFAE in October were women's and men's contemporary sportswear, women's designer apparel, women's 'gold range' apparel, and fine jewelry. Categories with the softest performances for SFAE in October were private brand, women's bridge apparel, evening dresses, and fashion jewelry.
Saks Incorporated operates Saks Fifth Avenue Enterprises (SFAE), which consists of 55 Saks Fifth Avenue stores, 50 Saks Off 5th stores, and saks.com. The Company also operates its Saks Department Store Group (SDSG) with 40 Parisian stores; 142 Younkers, Herberger's, Carson Pirie Scott, Bergner's, and Boston Store stores (collectively known as the Northern Department Store Group or 'NDSG'); and 56 Club Libby Lu specialty stores.
On October 31, 2005, the Company announced it had reached an agreement to sell NDSG to The Bon-Ton Stores Inc for $1.185 billion in a transaction expected to close early in the first fiscal quarter of 2006. The Company is exploring strategic alternatives for Club Libby Lu.
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